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Interest/penalty on delay in excise payment

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 November 2016 Dear seniors,
We had excise liability for the month of october but i have paid excise duty on 7/11/2016 pls tell me how much interest/penalty will be levied on this late payment of ED and for how many days,

Regards
Mukesh
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Dipesh

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Dipesh (Expert)
08 November 2016 Due date for ED payment is 5th of the next month. if you have paid duty on 7th day of next month then interest applicable @18% for 2 days. i.e. ED payble * 18%/360*No of days in delays.
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 November 2016 Sir i think ED online payment is 6th of next month not 5th
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